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To: bankbuyer who wrote (394)3/2/2012 3:34:42 PM
From: batman10023
   of 3148
 
STT will do a buyback also.

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From: indigostretch3/2/2012 4:20:29 PM
   of 3148
 
Re: SHLD
popped almost 10% tdy, the only news I could find:

1) Lampert buying Island Home in FL for $40M
2) Sears closing three stores.

Which made company market cap go up $715M in one day?

bonds still sleeping (proportionally)

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To: Covenant who wrote (395)3/2/2012 4:23:46 PM
From: indigostretch
   of 3148
 
Re: Argentina rebuffs Spain
I wonder if has something to do with Spain supporting UK on Falklands dispute?

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To: indigostretch who wrote (401)3/2/2012 4:42:11 PM
From: batman10023
   of 3148
 
look at the sears canada news.

i should have really followed my friend (who worked for eddie) when my friend bought right after eddie.

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To: indigostretch who wrote (402)3/2/2012 4:42:55 PM
From: batman10023
1 Recommendation   of 3148
 
hopefully argentina only fights one country at a time and doesn't do anything with respect to italy.

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To: indigostretch who wrote (402)3/2/2012 4:45:32 PM
From: Covenant
   of 3148
 
Public and private are two different things. Watch what the Argentina politicians do rather than assume what they say is what they intend.

Argentina politicians are no different than politicians the world over. What they say for public consumption may have no relationship to what they actually think or intend to do. The same goes for Spain politicians.

Spain politically has to be part of a united NATO for European opinion. Also, British tourism is a major industry for Spain. So they support Britain with words. There are no deeds supporting England over Argentina.

Spain and Argentina in general get along very well and have deep economic ties. Spain is going to strongly support one of its largest companies, particularly against legalized theft. They will also pressure the company to make enough concessions so that the Argentine government appears to get what they want while Spain itself is not severely damaged. Stealing YPF would cost Argentina politically, likely leading to economic repercussions in trade with Spain.

Spain's top companies and corporations.

1. Telefónica de España
Spain's Telecom operator, the Telefónica Corporation is Spain's biggest employer, with more than 95,000 people on the pay roll, and had the largest net profit. When it was privatized, the former telephone monopoly went through a process of expansion, both geographically (with a significant presence in Latin America) and in diversification into other media and the Internet, especially under its controversial chairman Juan Villalonga, appointed in 1996. Villalonga was forced to resign in 2000. The current president of Telefónica is César Alierta.

2. Grupo Santander
The Group Santander integrates to numerous banks and businesses not only in Spain, but also in Portugal and with a strong presence in south America. Among its banks we may find, the Santander Central Hispano Bank, Banesto, the Bank of Venezuela, Río de Plata Bank, etc. It is the first financial company of Spain and the second of the euro zone. The 68% of its employees work out side of Spain.

3. Repsol YPF
It is the mayor spanish petrol and gas company and of gas , with international presence in 28 countries and leader in Spain and Argentina. Its production is of 1,1 million barrels a day of petrol and its reserves overpasses the 5.400 million barrels, located in Latin America and in the North of Africa.

4. Iberdrola
Spain's biggest utilities company. In October 2000, the Iberdrola corporation anounced a merger with Endesa (ranked 6) to form the third largest electricity conglomerate in the world, and the first in terms of number of clients, with nearly 37 million users and a strong presence in Latin America, but restrictions imposed by the Spanish government caused the two companies to back out of the deal.

5. BBVA
Spanish bank with strong precence in foreing countries.

6. Endesa
Spain's second largest electricity company.

7. El Corte Inglés
Its name translating as "the English cut" (meaning English style), Spain's biggest chain of department stores was founded in 1940 by Ramón Areces, who had a Madrid tailor shop on Madrid's Calle Preciados. In 1995 it bought out its only serious competitor, Galerias Preciados.

8. Seat
SEAT stands for "Sociedad Española de Automóviles de Turismo". Spain's first big car manufacturer was founded in 1950, and under the Franco regime produced the endearing little Seat 600, based on a Fiat model. Some called it the "bellybutton", because everybody had one. Since 1986 Seat has been part of the Volkwagen group, and its economy model Ibiza is the best-sellling car in Spain.

9. Fasa Renault
The Spanish branch of the French auto manufacturer.

10. Opel
Spain's third largest car manufacturer.

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To: batman10023 who wrote (403)3/2/2012 4:53:08 PM
From: indigostretch
   of 3148
 
Sears Canada, yes three stores to be closed...doesnt add up, shares at $75 who is
buying? say Eddie breaks it in pieces, how much is it worth?

quibs are trading $11~12 for 16% current yield...

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To: indigostretch who wrote (401)3/2/2012 4:55:13 PM
From: Covenant
1 Recommendation   of 3148
 

I didn't find anything other than the Enron like plan administrator change which seems like nothing.



Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans.
On February 24, 2012, Sears Holdings Corporation (“Company”) received a notice from the Plan Administrator for the Sears Holdings 401(k) Savings Plan, the Sears Puerto Rico Savings Plan, and the Kmart Retirement Savings Plan for Puerto Rico Employees (collectively, the “Savings Plans”) of a blackout period (the “Blackout Period”) with respect to the Savings Plans pursuant to Section 101(i)(2)(E) of the Employee Retirement Income Security Act of 1974, as amended. The Blackout Period is required because the Savings Plans are changing their recordkeepers from ING Institutional Plan Services, LLC to Hewitt Associates, LLC (a subsidiary of Aon Corporation). During the Blackout Period, participants in the Savings Plans will be unable to change their contribution rates, request withdrawals or distributions, request new loans, change investment selections or otherwise perform account transactions under the Savings Plans, including with respect to common stock of the Company, which is an investment option under the Savings Plans. The Blackout Period will begin at the close of the market (3:00 p.m. Central Time) on March 26, 2012 and is expected to end on April 3, 2012.

On March 1, 2012, the Company sent a notice to its directors and executive officers informing them of the Blackout Period and the restrictions on trading in the common stock of the Company (including with respect to derivatives) that apply to them during the Blackout Period. This notice was provided to directors and executive officers pursuant to Section 306 of the Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR promulgated pursuant to the Securities Exchange Act of 1934, as amended. A copy of such notice is attached as Exhibit 99.1 to this report and is incorporated herein by this reference.

During the Blackout Period and for a period of two years after the ending date of the Blackout Period, stockholders and other interested parties may obtain, without charge, the actual beginning and ending dates of the Blackout Period by contacting the Sears Holdings Benefits Center at 1-888-88sears (1-888-887-3277) and selecting Option 2 for Financial Benefits or Robert Lyter, Director of Benefits, Sears Holdings Management Corporation, 3333 Beverly Road, Hoffman Estates, IL 60179-0001, 1-847-286-2500. The address for the Sears Holdings Benefits Center prior to April 3, 2012 is P.O. Box 56287, Jacksonville, Florida 32241-6287 and as of April 3, 2012 will be P.O. Box 1498 Lincolnshire, IL 60069-1498.







Important Notice of Blackout Period to

Directors and Executive Officers of Sears Holdings Corporation

(March 1, 2012)

Federal securities laws require us to send you a notice whenever restrictions are imposed on your trading in Sears Holdings Corporation common stock (including derivative securities such as options) due to a blackout of transactions under the Sears Holdings 401(k) Savings Plan (the “Savings Plan”) that lasts for a period of more than three (3) consecutive business days. The Savings Plan, together with two smaller company-sponsored plans, the Sears Puerto Rico Savings Plan and Kmart Retirement Savings Plan for Puerto Rico Employees (collectively the “Savings Plans”), will be changing recordkeepers from ING Institutional Plan Services, LLC to Hewitt Associates, LLC (a subsidiary of Aon Corporation). As a result of this conversion, there will be a blackout period (the “Blackout Period”) during which participants in the Savings Plans will be temporarily unable to change their contribution rates, request withdrawals or distributions, request new loans, change investment selections or otherwise perform account transactions under the Savings Plans, including with respect to common stock of Sears Holdings Corporation, which is an investment option under the Savings Plans. The Blackout Period for the Savings Plans will begin at the close of the market (3 p.m. Central Time) on March 26, 2012,and is expected to end on April 3, 2012.

During the Blackout Period, all directors and executive officers of Sears Holdings Corporation are prohibited from purchasing, selling or otherwise acquiring or transferring any Sears Holdings Corporation common stock (including restricted stock and stock acquired under the Sears Holdings Corporation Associate Stock Purchase Plan (the “ASPP”)) or any derivative securities relating to Sears Holdings Corporation common stock ifsuch common stock was acquired in connection with the director’s or executive officer’s service as a director or executive officer of Sears Holdings Corporation. Please note that under applicable securities laws and regulations, any common stock of Sears Holdings Corporation that you purchase, sell or transfer during the Blackout Period will be presumed to have been acquired in connection with your services as a director or executive officer of Sears Holdings Corporation unless you can establish that the stock was not acquired in connection with your services as a director or executive officer of Sears Holdings Corporation. These restrictions apply regardless of whether you participate in the Savings Plans.

As a director or executive officer of Sears Holdings Corporation, these prohibitions may apply to you and to members of your immediate family who share your household, as well as to trusts, corporations and other entities whose stock ownership may be attributed to you. There are a limited number of exceptions to the restrictions described above. For example, the trading prohibition does not apply to transactions such as qualified Rule 10b5-1 trading plan transactions, bona fide gifts or transactions involving equity securities that were not acquired in connection with your services as a director or executive officer. If you are a participant under the ASPP, this trading prohibition also does not preclude a regularly scheduled quarterly purchase of Sears Holdings Corporation common stock during the Blackout Period (if any) by the ASPP, on your behalf as a participant.

Any profit realized by a director or executive officer from any non-exempt transaction involving Sears Holdings Corporation common stock during the Blackout Period is recoverable by Sears Holdings Corporation.

If you have questions regarding the Blackout Period, including when it has started or ended, you may contact the Sears Holdings Benefits Center at 1-888-88sears (1-888-887-3277) and select Option 2 for Financial Benefits or Robert Lyter, Director of Benefits, Sears Holdings Management Corporation, 3333 Beverly Road, Hoffman Estates, IL 60179-0001, 1-847-286-2500. The address for the Sears Holdings Benefits Center prior to April 3, 2012 is P.O. Box 56287, Jacksonville, Florida 32241-6287 and as of April 3, 2012 will be P.O. Box 1498 Lincolnshire, IL 60069-1498.

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From: Covenant3/2/2012 4:58:22 PM
   of 3148
 
Re: Oil Price Shocks Not As Bad As Rumored


Chart of the week: measuring oil shocks
March 2, 2012 7:27 pm by Rob Minto
1 0
It’s easy to get concerned about rising oil prices: they push up inflation, prompting rate rises (or a slowing of rate cuts) and hence stymie growth. Don’t they?

What if high oil prices didn’t have that effect, especially on emerging markets? Chart of the week investigates.

A look at a recent selection of analysts’ notes reflect deep concern about the effects of rising oil prices. Most seem to tackle the topic from the assumption that high oil prices have a negative effect – the question is just how bad.

But a working paper from IMF economists Tobias Rasmussen and Agustin Roitman published last year ( Oil shocks in a global perspective: are they really that bad?) suggests that “periods with high oil prices have generally coincided with good times for the world economy, especially in recent years.”

Part of the reason for the popular misconception, they suggest, is that much of the research into oil prices and growth has centred on the US, which the authors conclude is something of an outlier. The coincidence of recessions and high oil prices in the 1970s has also influenced the oil price/growth assumption.

The report defines an oil shock as any of the 12 episodes since 1970 where oil prices have reached 3-year highs, which works out at an increase of roughly 25 per cent. We are in that territory now, with oil at its highest level since mid-2008, rising 17 per cent since the start of 2012.

So what happens in oil shocks? For a typical oil importer, looking at both developed and emerging markets, the cumulative loss over a 2-3 year period is around 0.3 per cent. Only once oil imports represent over 5 per cent of GDP for a country is the effect greater than 1 per cent of GDP.

The negative effects of oil price shocks tend to happen a year later, rather than in the year of the price shock. For the OECD oil importers – which is a group of developed countries plus Turkey – GDP growth fell by around 0.7 percentage in year two of an oil shock episode compared to the median for GDP growth for 1970-2010. The effect for emerging markets is less pronounced.

The two charts below show what happens to GDP in the year of an oil shock, and in the year after, for 16 selected developed countries and emerging markets. The pattern globally is very similar. The red bars indicate oil producers (net exporters) and the blue are importers.



Aside from Venezuela and South Africa, the other 14 countries all have lower growth in the year after the oil shock episode, and there is a shift from positive to negative growth. And the oil producers don’t all win – Saudi Arabia, for instance, in the year after an oil shock sees a negative impact.

The authors also show that, the second year, the effect of the oil shock is more keenly felt in developed importers than in emerging market importers.

The report uses four groupings: oil exporters, OECD importers, and importers for middle and low income countries. This basically divides up into EM exporters plus Norway; DM importers plus Turkey; and emerging markets by middle and low income.

The difference between GDP growth in oil shock years and the median GDP growth for the period is high for exporters, naturally. It is also between 2.1 and 2.5 percentage points for EM and DM importers.

But the same figures one year on are more interesting. All the importers suffer, but the DMs by much more: -2.6 percentage points to -0.3 and -0.7 for the two EM groups.



In other words: oil shocks aren’t that bad; they happen later than you might think; and they hit developed markets more. Or so historical research shows. Is this time different?

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To: Covenant who wrote (407)3/2/2012 5:00:53 PM
From: indigostretch
   of 3148
 
Re: SHLD
and puts are not in panic, premiums at confiscation levels.

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