Tuesday, January 28, 2020

Knives out for Ford - (NYSE:F)


Ford Motor Company (NYSE:F) has been in a downward spiral since 2014. Threats can push Ford into bankruptcy much sooner than most realize. In September 2019, Moody’s delivered a blow to the automotive giant by downgrading its credit rating to ‘junk’. The S&P followed suit and downgraded Ford’s debt to BBB-, just a notch above junk. Ford’s long-term debt has covenants that trigger when two out of four rating agencies deem it junk.

The covenants, if triggered, will make it difficult for Ford to obtain funding.
Ford committed $11 billion in a bid to revive the company. Investors have been losing patience as their earnings continue to be depressed because of losses incurred in China.

Wednesday, January 22, 2020

Chinese coronavirus getting serious - Update

The virus, which was first identified in the central Chinese city of Wuhan, is known to have infected more than 400 people and spread to at least three other countries. On Monday, China's National Health Commission confirmed that the Wuhan coronavirus can be passed from human-to-human and that medical staff had also been infected. The spread of the respiratory virus to Thailand, Japan, South Korea, Taiwan, and the United States, is fueling fears of a broader epidemic.

The pathogen as a new strain of coronavirus, the same family as severe acute respiratory syndrome (SARS). In 2002 and 2003, SARS infected more than 8,000 people and killed 774.
Initial symptoms of the Wuhan coronavirus include fever and coughing. At least 453 cases had been confirmed throughout China, leading to fears of an epidemic. Patients infected with the coronavirus have difficulty breathing and invasive lesions on the lungs. Governments around the world have begun responding to the perceived threat.

Saturday, January 18, 2020

Party over for Bombardier BBD.b

Massive taxpayer funded PoS Bombardier BBD.b is in trouble deep, again. The co slashed its financial estimates on Thursday.

Bombardier carries a jaw-dropping $9 billion (U.S.) in debt. Asset sales and write-downs are in the cards. It burned through more than $2 billion during the first three quarters of 2019. Bombardier is controlled by the founding Bombardier-Beaudoin family through a special class of multivoting shares. Quebec Economy Minister Pierre Fitzgibbon would not rule out providing Bombardier with more financial assistance.
The co may abandon its partnership with Airbus, even though Bombardier has sunk about $6 billion into the program. A huge write-down on the Airbus venture is a given.

Bombardier’s rail unit got more bad press when New York City pulled 300 subway cars out of service due to unreliable, Chinese made door mechanisms. “Bombardier sold us lemons,” the city comptroller said.

Wednesday, January 15, 2020

Venture sayings to live by

"NEVER try to catch a falling knife."

Easy in talk, difficult in reality. Venture chit ought never be 'averaged down' on the belief it is cheaper and somehow a better deal. The idea MIGHT fly with dividend stocks, but for damn sure not high spec garbage.
NEVER fall in love with a deal.

Closely related to the above, it is all pure bad when one loses emotional detachment to any deal. Have a rule going in about how much you are prepared to lose. Once at that point, don't DARE suppose it can't fall further.

Bet on the Jockey. If the dopes behind your deal have failed half a dozen times already odds are very good they are scumbags about to rip you off.
Good News by Freight train, Bad news by mule train.

If news from Venture scumbags is delayed it won't ever be good. EVER.

"The trend is your friend." True in virtually all securities, particularly so for high spec where SP is volatile and markets may not be liquid.

"Anomalies are like assholes, everybody has one" - For the mining crowd.

Saturday, January 11, 2020

Micheal McPhie - Prize Mining (PRZ.v) - Update V

McPhie used some of the stolen loot from PRZ to hire lawyers to protect that OH SO bulletproof reputation of his. Said lawyers have managed to do google take-downs of the material of Mark Turner at Inca Kola.
"We are legal counsel for Prize Mining Corp. (“Prize Mining”) and Michael McPhie, the President and Chief Executive Officer of Prize Mining. We are advised by our clients that an anonymous blogger (the “IKN blogger”) has authored and published a series of blog posts containing false and malicious statements about Prize Mining and Mr. McPhie on the following Google Blogger/Blogspot website_ https://incakolanews.blogspot.com/ (the “IKN Website”). We have attached as Schedule ‘A’ to this report URL links to the defamatory blog posts from October 22, 2018 to January 20, 2019 (the “Defamatory Posts”). The Defamatory Posts contain false statements and harmful innuendo alleging that Prize Mining and Michael McPhie are deceptive, misleading, a scam, lying to the public and investors, fraudulent, a stock fraud, operating a pump and dump, and operating and acting in violation of securities laws. The IKN blogger has called Mr. McPhie a criminal..."
Truth hurts doesn't it McPhie you wicked ball-licking boneyard dog. The 'new and improved' is Boundary Gold And Copper Mining Ltd. PRZFF.pk
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Loyal readers concerned about being bent over might want to peruse a recent story regarding Micheal McPhie's 'entitlements' as a Liberal appointee at Ridley Terminals. “I’m sorry, I’m not responding to those questions about costs. We have provided a full statement. That’s all I have to say at this moment.” What did McPhie learn at Stanford? “I’m not answering anything further,” McPhie said. “What part of that answer do you not understand? I’m not beholden to you to give you anything.
Latest for Micheal McPhie is being offloaded, finally, as PRZ.v chief dufus. "Michael McPhie has resigned as chief executive officer, president and a director of Prize Mining Corp."

And what a job of driving this junk straight into the ground he did, and in such a short time too. "The Company reported general and administrative expenses during the nine months ended May 31, 2019 of $2,461,032"

At last report McPhie is still the Liberal appointed guru at Ridley Terminals a federal Crown Corporation. Taxpayers are paying for this tard's proven management 'expertise' and BridgeMark ethics.
BridgeMark alumni Mikie McPhie's latest scheme for value creation is a 1 for 5 rollback. Strange the dork is shifting gears considering the share count more than tripled within a score of months under his ridiculous BridgeMarkian 'leadership'.

He then decided stupid low rock bottom dilution at $.025 was the answer for keeping his grotesquely high salary paid. Just great and is McPhie REALLY this stupid? The brilliant idear to dilute at absolute rock bottom was the work of an idiot. Now the inevitable rollback comes because nobody wants this garbage and it's laughable 'leadership' at any price.

Micheal McPhie is a well proven useless terd and in my experience covering a decade he has NEVER created a fukkin thing except losses.
So sure. Kicking a dog when it's down is bad. No sport in doing that and dogs don't get much more down than Prize Mining. HOWEVER, when one is discussing the very insulting Mr. Micheal McPhie and his amazing propensity to spew retardism in the face of realism one has license. A dog license as it were.

The reader's digest version here is that this is straight-up BridgeMark scammery with 'Mike' piloting the chit ship through the entire storm. His management prowess in 'creating value' has been proven beyond question and it is terrible, horrid bad. He is a shareholder's worse nightmare. He is totally bleeding FIDO dry now when he ought to have resigned like his co-doggies did.
The ASC lowered the boom and PRZ.v came back trading today. Whoop Dee Do. $ 450 worth on the bid at $ .03 and frankly I'm amazed somebody is that brave. Dopey McPhie THOUGHT he knew when PRZ.v paper was gonna trade (last week) and had a long NR prepared, along with a spam e-mailing. Trouble is he had no clue and ought not have predicted such a thing because it's verbotten.

To make matters worse he lied ... "have now fully addressed the matters brought forward by the BCSC and the ASC." That ain't true by a long shot. BOTH are still investigating BridgeMark and for certain more is coming. He also, naturally had to say "renewed and complete focus on advancing our highly prospective assets in Mexico and British Columbia and creating shareholder value."
I have followed McPhie for years and his special brand of stupidity is impossible to measure. He should not be anywhere near a position of fiduciary responsibility and he's proved it, very well. Not knowing when to shut up is the sure sign of a dope impressed with the stench of his own arsehole. Mr. McPhie must run around in circles every day in complete rapture, so happy idiots are actually paying him for his 'services'.

Friday, January 10, 2020

Boeing cutting 737 MAX production - 'designed by clowns supervised by monkeys'

Boeing employees raised doubts among themselves about the safety of the 737 Max. This included trying to hide problems from federal regulators and ridiculing those responsible for designing and overseeing the jetliner, this according to a batch of emails and texts released almost a year after the aircraft was grounded after two crashes.

“This airplane is designed by clowns who in turn are supervised by monkeys,” one employee wrote. Another said she or her family would never fly in the aircraft.

Some 400 planes remain grounded with no timetable as to when they might be flying. A year ago Boeing reported it had orders for 5,011 737 Max planes from 79 customers.
Boeing is considering suspending or cutting back production of its grounded 737 MAX aircraft after the US Federal Aviation Administration (FAA) said last week it would not approve the plane's return to service before 2020. The best-selling Boeing plane has been grounded since March after two new airplanes crashed within five months, killing all 346 people on board. Boeing has already taken a $3.6b charge to cover additional production costs and has set aside $6.1b for compensation.

The Boeing 737 MAX is a fourth generation of the Boeing 737, first flown in 1967. It is based on earlier 737 designs and that is it's largest flaw. Re-engined with more efficient CFM International LEAP-1B engines, the new aircraft should have been designed around them. Instead the 737 airframe has created an inherently unsafe plane.

Thursday, January 2, 2020

US to ban vape flavours

The FDA is banning most fruit and mint flavored nicotine vaping products in an effort to curb a surge in teen use. Under the new rule, which takes effect in 30 days, companies that do not stop the distribution the sweeter flavors that appeal to kids risk enforcement action. The FDA is specifically banning cartridge-based nicotine pods like Juul, allowing vape shops to continue selling tank-based flavored nicotine liquids, which require users to manually fill their pods.
The decision comes amid a rise in teen e-cigarette use and a deadly lung illness that has taken the lives of 55 people across 27 states.