I thought the jeremy grantham interview was pretty interesting. as well as the interview with the distressed debt hedge fund gal. darling does sound cheap though. In my list I forgot to include aab.to. this is large position that is not doing so great technically but I still own all my shares as it continues to be a huge value stock.
OT i finished my taxes today using tax cut, after reviewing my printed return i discovered that my foreign taxes withheld on dividends didnt make their way automatically to the 1040 or to the 1116 worksheet . i had to put the stuff into the 1116 worksheet myself and then it transferred to the 1040 and calculated i hope the correct number. I also found out i didnt get a credit for the full amount of taxes paid. only a percentage. be interested in comments of others on this topic.
Seems to make some sense based on comparisons of sales/sq ft ratios between BBY & RSH. The other question might be how sustainable is the fat 7% dividend. If the dividend is reliable enough, perhaps it is worthwhile to invest to wait for a recovery or a possible buyout?
Foreign tax credit: "I also found out i didnt get a credit for the full amount of taxes paid. only a percentage."
I found that to be true in my situation also.
For small players, the last time I looked (2010) I concluded: Form 1116 can be ignored if your total creditable foreign taxes are $300 or less ($600 or less on a joint return) and you meet certain other requirements. You just had to put that foreign tax credit amount on line 47 of p. 2 of the 1040, and that was it. The person/couple got the full credit against their taxes. (Assuming of course the person/couple's tax for the year was over $300/$600.)
For foreign taxes withheld totaling over $600 for joint return filers (my situation), if I want the credit applied directly against my taxes (as opposed to just taking a deduction for the amount of foreign taxes withheld), then I have to complete Form 1116. And you only get the full credit applied to your tax amount if you have foreign income in a ratio to overall income that's deemed acceptable by the USA's Internal Revenue Service. If this income ratio test isn't high enough (or maybe low enough ---not sure which--- it's all a black hole to me ---- my accountant's computer does the numbers), the unused (unapplied) foreign tax can be carried over to future years for an offset to USA taxes in those future years. In my case, I've had withheld foreign taxes in excess of $600 in each of the past few years. I notice that I'm in my third year of carry-overs and of not having my foreign taxes fully recouped. That carried-over amount is increasing each year. So in my experience, it is not a given that the foreign tax is recouped 100% very easily or quickly.
Michelin reports strong 2011 profit Associated Press – Fri, Feb 10, 2012 8:08 AM EST French tire maker Michelin reports 39 percent growth in 2011 profit despite volume slowdown finance.yahoo.com
From the article:"...Tire maker Michelin says earnings rose 39 percent last year as a strong first half helped offset a slowdown in the last half of the year that caused sales growth to miss the company's targets.
Michelin, based in Clermont-Ferrand in central France, reported net profit of euro1.46 billion ($1.94 billion) for 2011, up from euro1.05 billion in 2010. Sales volumes grew 6.7 percent last year, slower than the 9.3 percent rate they'd set through the first nine months of the year, as European economies slowed at the end of the year. The company forecast Friday that its operating income would rise to euro2.5 billion ($3.3 billion) by 2015, from euro1.9 billion last year, with the goal of cutting costs by euro1 billion over five years...". ---------------------------------------------
Good timing on your recent sale. Seems like the company is on track. I plan to hold my small amount of shares until I receive the dividend sometime in May.
Increased my ATO position by 65% to slowly build my NG utility/pipeline/storage companies. MDU and GAS are still my largest individual company holdings each 25% larger than my current ATO position. I like the mention (up thread) of fueling station and NG Truck engine builders but am waiting for better "value" buys of companies in this sector.
It's a little discouraging that the one company (Wesport Innovations) that is developing some of the next generation NG technology is a Canadian company. Why don't we see any of our US companies lead this development (like HON, TRW)?
If anybody discovers any 2nd tier NG integrators that offer a value proposition, please post. I am looking to add other types of NG infrastructure development, products, technologies and even companies that benefit from cheap NG (like fertilizer/chemical companies) to add to my basket of NG related "theme" companies.
Is Lucas Energy Copying Chesapeake And About To Make A Bold New Move? seekingalpha.com From the article:"...This year it plans to sell its Eagle Ford and some other properties for approximately $95 million. It has 5,144 net acres in the Eagle Ford Shale (and 3.745 net acres in the Eaglebine). This seems like an entirely believable statement, as previously large sales of Eagle Ford oil producing acreage have sold in the range of $15,000 to $20,000 per acre.
The above sale along with other Lucas Energy actions is supposed to generate $106.8 million in cash inflows in 2012. Since Marathon Oil (MRO) is a JV partner with Lucas Oil in the Eagle Ford, it seems likely that MRO will be the company doing the buying. This makes the sale at a good price a virtual certainty. MRO has paid top dollar for large chunks of both the Eagle Ford and the Bakken in the recent past...."