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Seven Years After Spin Off From Sara Lee, HanesBrands Finally Begins Paying Dividend

By
Inelegant Investor
– April 8, 2013Posted in: Stock Spinoffs

In 2006, Sara Lee, now Hilshire Farm(HSH), loaded up HanesBrands(HBI) with lots of debt and spun it off. Seven years later, after weathering a financial crisis, steadily paying down debt and improving profitability, the company has announced it will pay a quarterly dividend of $.20, beginning in June.  The dividend will be paid on June 3, to shareholders as of May 20. “Initiating a quarterly dividend is a substantial company milestone made possible by strong strategic execution, successful debt reduction and cash-flow generation, and margin-improvement prospects,” Hanes Chairman and Chief Executive Officer Richard A. Noll said. “With our successful track record and long-term outlook, the Board decided it was time to institute a regular quarterly dividend.” The company also pre-announced excellent earnings for last quarter and reaffirmed guidance for the year.  We have long been bullish on HanesBrands and are glad to see this important step in the company’s growth. Disclosure: The author owns shares in HSH and HBI Related articles Hanesbrands to Pay its First Dividend (fool.com)

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Energy Edge Solutions Soaring On The Dry, Fried Wings Of A Chicken, Err, A Gourmet Chicken

By
Inelegant Investor
– April 8, 2013Posted in: Stock Spinoffs

We love all our posts equally, really we do. It’s just that some posts are more equal than others.  We take a guilty pleasure in writing up nanocap stocks that have decided to pursue a spinoff.  While we have seen many nanocaps with value(and we own significant stakes in several), we have yet to see a spinoff in a company of this size that contained any real value in either of the surviving companies.  So when Energy Edge Technologies(EEDG), with a market cap of just $2.56 million, announced on Friday that it planned to spin off Energy Edge Solutions, we got right to work. Energy Edge Solutions, as you are almost certainly not aware, is a tiny, money-bleeding energy consultancy which helps companies optimize their energy consumption. Late last year, the company merged with the Dry Fried Wing Company, moved the energy business to a subsidiary and increased the ownership stakes of management in the subsidiary. Thankfully, the company did not insult us by promising synergies between the energy consulting business and the fried wing business. Now, just half a year later, the company is reversing the process. Sound and fury, signifying nothing? Nothing of value for shareholders, certainly. Once [...]

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Valero Set To Spin Off CST Brands on May 1 To Shareholders Of Record On April 19

By
Inelegant Investor
– April 8, 2013Posted in: Stock Spinoffs

Thanks to several alert readers who point out that, while we were asleep at the wheel, Valero(VLO) announced the final details of its CST Brands spinoff. It was just last week that we reported the company was two steps away. Those steps are now complete. Valero issued a press release on April 4, confirming that it had received a private letter ruling from the IRS granting tax free status to the spin off. Subsequent to receipt of the ruling, the company’s Board approved the spinoff. The company will be spinning off 80% of CST Brands on May 1. Valero shareholders on the record date of April 19 will receive one share of CST for every nine shares of Valero that they own.The company expects that both CST and VLO will begin trading on a when issued basis on April 17, and that CST will begin trading regular way under the ticker CST on May 2. The company will retain 20% of CST for at least six months, but plans to divest the stake once the six month period has passed. The full information statement can be found here.  CST will operate around 1900 retail locations, a bit more than half [...]

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Chrome OS without Google

By
Admin
– April 5, 2013Posted in: Gadget Wisdom

I have spent a good deal of time with Chrome OS and the Chromebook. The one troubling thing about it is not that it is an operating system in a web browser. You know that going in. It is Google. Recent events have made all of us a bit wary about Google Services, while still using them. When Google recently launched Google Keep, a decent service in its own right, no one trusted it. Before the Reader debacle, the Google enthusiasts would try it. Now, many are afraid to love a new service. GigaOm picked up on a feature request for the Chromium OS, the Open-Source version of ChromeOS. The feature would establish an API to allow for extensions to integrate into the file manager, allowing cloud services other than Google Drive to act as ‘drives’ inside the file manager. Elsewhere, in the Chromium Project, there is a reference to using Chromium without a Google login, but so far, even on the open-source project, you need Google. But, one can ask…if you are going to do Chrome without Google…what’s the point? You might as well run a full-fledged OS. Years ago, computer design was based on ‘dumb terminals’ and powerful [...]

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In Brief: HDHomeRun Prime Now Supports DLNA

By
Admin
– April 5, 2013Posted in: Gadget Wisdom

SiliconDust has finally released the option of DLNA support for its HDHomeRun Prime. As of last week, this feature is available for general release. The limitation is that protected content can only be streamed to a player supporting DTCP-IP. This is a potential problem, as support is limited. SiliconDust does have plans to release an Android app. They did release an app(Link) for unencypted channels, which goes for $2.99. Not much help right now, but if more devices can be made to support this, it could be an alternative to cable boxes, even for those of us unfortunate enough to be on Time Warner Cable. Imagine a single 4 tuner Prime and a series of inexpensive DLNA DTCP-IP devices could be a replacement for the $10-$15 per month cable boxes. The entire setup could pay for itself in less than a year. Related articles HDHomeRun DLNA Update Now Available(thedigitalmediazone.com) HDHomeRun Prime firmware featuring DLNA streaming comes out of beta(engadget.com)

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In Brief: Bought Vinyl Records? Amazon Has You Covered

By
Admin
– April 4, 2013Posted in: Gadget Wisdom

I really wished I had purchased my vinyl from Amazon, because today, Amazon expanded its AutoRip service to vinyl records purchased since 1998. AutoRip automatically adds MP3 versions of songs to your Amazon Cloud Player Account. When Amazon released the AutoRip service, they backdated any eligible CDs purchased from Amazon, and they have now extended this to Vinyl Records…interestingly tempting, but a marginal improvement. Related articles Amazon launches AutoRip for vinyl, pairs MP3s with your records(theverge.com) Amazon extends AutoRip to vinyl records(news.cnet.com) Amazon offers digital songs to vinyl record buyers(sfgate.com)

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Episode 141 – The One With the Bald Nerd

By
Guru
– April 3, 2013Posted in: Android Buffet

header
Guru and Jere are joined by Robbie Ferguson, host of Category 5 Technology TV.

Show Notes

In Other News

Google pressures Swedish Language Council to redefine proposed word, ogooglebar. The Swedish Language Council removed the word rather than get into the debate of how to define ogooglebar.
Why [...]

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Valero Two Steps Away From CST Brands Spinoff

By
Inelegant Investor
– March 31, 2013Posted in: Stock Spinoffs

Investors who have long been anticipating Valero’s(VLO) spinoff of retail division CST Brands(CST) won’t have to wait much longer. According to Convenience Store News, Valero Chief Financial Officer Mike Ciskowski said at a recent luncheon that the company was just waiting for an IRS ruling that the transaction would be tax free to shareholders, and for final Board approval. He said that such a ruling typically takes between four and six months and that the company had filed five months ago.  Board approval would quickly follow. Once these steps are complete, Valero will distribute 80% of CST to shareholders and sell the remaining 20% over the year that follows. Valero’s retail operation of 1900 convenience stores and gas stations including 1032 in the United States is thought to be undervalued when combined with the firm’s core refining business. The company expects that significant value will be unlocked by executing this spinoff. Disclosure: The author holds no shares in any stock mentioned Related articles Valero faces one hurdle before retail separation (mysanantonio.com) Valero Cancels Sale of California Refineries (blogs.wsj.com)

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HART IPO Set For Early April, Harvard Bioscience To Spin Off Remaining 83% Stake In 120 Days

By
Inelegant Investor
– March 31, 2013Posted in: Stock Spinoffs

In December, Harvard Bioscience(HBIO) filed for an IPO of Harvard Apparatus Regenerative Technologies(HART). Last week, the company announced that the tax free spinoff was approved by the IRS, and that an IPO of 17% of the company would be conducted in early April at an expected price of $10-$12 per share. The company will spin off the remaining 83% to shareholders 120 days after the offering closes. Disclosure: The author holds no position in any stock mentioned Related articles Harvard Bioscience prepares HART spinoff; HART readies for IPO (bizjournals.com)

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Prothena Expands Executive Team, Moves Forward With Drug Development

By
Inelegant Investor
– March 31, 2013Posted in: Stock Spinoffs

A quarter has passed since its spinoff from Elan(ELN), and Prothena(PRTA) continues to lumber forward with its development as an independent company.  Prothena issued two announcements last week. In the first, it announced the expansion of its management team, with the appointments of Dr. Martin Koller as Chief Medical Officer, and Tran Nguyen as Chief Financial Officer. “Marty and Tran bring a wealth of biotech expertise to Prothena and will play pivotal roles as we advance our research and clinical pipeline. I am pleased to welcome them to our management team,” said Dr. Dale Schenk, President and Chief Executive Officer, Prothena. “Marty’s decades of clinical leadership will forge strong trial strategy and design in multiple indications. Tran’s financial strategy, planning and management experience with public life science companies will provide critical support for the advancement of our pipeline.” Martin Koller, MD Martin Koller, MD is a board-certified neurologist with more than 20 years of experience in the life sciences industry, developing small molecules and biologic therapeutics for a diverse array of indications. Prior to joining Prothena, Dr. Koller served as Chief Medical Officer at Sonexa Therapeutics. Previously, Dr. Koller held clinical development roles and leadership positions at life sciences companies [...]

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