Topic: Operations

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Swimming with the Sharks…
February 24, 2004—In the proxy it filed yesterday, Brocade Communications (BRCD) , notes that it has an agreement with the the limited partnership that owns the San Jose Sharks hockey team. One of the two principals in that limited partnership is Brocade Chairman and CEO Gregory Reyes, which bought the team for $147 million in March 2002, […]

Feel the love…
February 13, 2004—There’s no love lost this Valentine’s Day between two of the nation’s largest floral services. In its recent 10-Q, FTD Inc. (FTD) disclosed that Teleflora had filed a lawsuit against FTD on Dec. 30 claiming that FTD had hacked into Teleflora’s floral delivery software. Most florists subscribe to either Teleflora or FTD, both of which […]

Back to Ohio…
February 10, 2004—Last week, Cardinal Health (CAH) announced a series of management changes including naming George Fotiades as President and Chief Operating Officer. He had been president and CEO of Cardinal’s Life Sciences unit. The promotion, which includes a 35% raise and a bonus of 160% of his base salary of $725,000 (up from 130% of $540,000 […]

The $2 billion “family business”
February 3, 2004—When a public company with a market cap of over $2 billion does things that seem more appropriate for a small, privately owned company, investors need to start paying closer attention. In its recent proxy, Hovnanian Enterprises (HOV) the large home builder, disclosed that it was under contract to purchase millions of dollars worth of […]

Clear skies for investors…
January 30, 2004—I usually try to devote Fridays to something positive that a company is doing for its investors, though lately I’ve had difficulty finding examples. But Southwest Airlines (LUV) filed their 10-K yesterday and there’s some great examples on how to do things right. First, is the fact that they filed only a week after releasing […]

Coming out in the wash…
January 29, 2004—You have to wonder why it’s taken Arriba (ARBA) , a former high-flying tech stock whose shares once traded at around $200, so long to describe an unusual loan arrangement between its former Chairman and its current Chief Executive. The company’s latest attempt at describing the deal — in an amended 10-K filed yesterday — […]

Getting hotter…
January 26, 2004—On Friday, the same day that Halliburton (HAL) said it had fired two employees for taking kickbacks and repaid the government $6.3 million , the oil services giant warned in its 8-K that it was likely to be subject to increased scrutiny from “political adversaries of the Vice President and the current Bush Administration” as […]

Beyond the press release…
January 20, 2004—Tempting as it may sometimes be to rely on a press release, these releases — whether they’re talking about earnings or management changes — rarely seem to tell the whole story. Which is why it’s important to go to the SEC filings. Max & Erma’s (MAXE) , an Ohio-based casual restaurant chain, issued a tear-filled […]

Nice work if you can get it…
January 13, 2004—In PalmSource’s (PSRC) registration statement to offer 2.75 million shares filed earlier today, the company notes that it has entered into a consulting contract with one of its directors, Satjiv Chahil. Under the contract, which was entered into on August 1, Chahil will receive $11,200 per month in exchange for four days of work. His […]

Take 4…
January 2, 2004—On Tuesday, SPX Corp. (SPW) filed its 3rd amended K this year, correcting numbers it first put out in March. The company has also filed 4 amended Qs in 2003. In an explanatory note at the beginning of the K, the company said this was due to an SEC review. In the latest K, the […]