Topic: Risk Factors

— 2640 items —

Heinz stops saying never…
June 20, 2008—Annual report season is long gone, but 10-Ks still dribble in now and then, courtesy of companies with oddball fiscal years. One of these stragglers is H.J. Heinz (HNZ), which filed its 10-K yesterday. In what’s probably a sign of the times, a comparison with last year’s 10-K reveals that Heinz has tightened up its […]

On healthcare and the upcoming election…
June 18, 2008—It’s no secret that the two major candidates for President have vastly different takes when it comes to healthcare reform (here’s Obama’s plan and here’s McCain’s plan). And now, fears over which way it will go have started to filter into various SEC filings, mostly in the form of risk factors. Among those companies warning […]

Real estate secrets at Syms?…
June 13, 2008—The motto of discount clothing retailer Syms Corp (SYMS) is: “An educated consumer is our best customer.” An educated shareholder, on the other hand, can be a pain in the butt. Esopus Creek, an activist hedge fund holding about 4% of Syms stock (the Syms family controls the majority), has been educating itself about the […]

Auction-rate blues at Hot Topic…
May 29, 2008—This week The Wall Street Journal reported that at least 400 companies are stuck holding auction-rate securities. Since these securities remain as unmarketable as the recordings of past American Idol Taylor Hicks, some firms (including Google, says the Journal) took partial write-downs in the first quarter. In skimming some first-quarter disclosures, I sense that companies […]

The birth of a new contra-indicator?
May 15, 2008—Last week, the once high-flying First Marblehead (FMD), which we first footnoted here back when it was trading at around $30, announced that it was cutting 500 jobs in an effort to save $200 million. That’s the sort of thing that normally causes a stock to rally, but that’s far from the case here: the […]

An addiction for risk at Anworth…
May 14, 2008—In yesterday’s NY Times, Andrew Ross Sorkin interviewed Citadel Investment Group founder Ken Griffin, a critic of risk management practices in the financial services industry. “We have a responsibility,” says Griffin, “to manage risk in a way that is prudent.” A slightly different statement about risk management comes from the folks at Anworth Mortgage Asset […]

The silly season for perks…
April 21, 2008—Here at footnoted, we’re all about better disclosure. But as with most of the other good things in life, there are certain times when there is simply too much of a good thing. Take the proxy statement filed by CVB Financial (CVBF) last week. In a footnote to the “all other compensation”, the bank disclosed […]

On AMR: We hate to say we told you so…
April 9, 2008—Nearly seven weeks ago, we footnoted about what seemed like an interesting disclosure at AMR (AMR), the parent company for American Airlines, which disclosed a sizable increase in the number of airworthiness directives it had received in its 2007 10-K. At the time, the stock was trading at around $14.50 a share. Fast forward to […]

Blackstone and the NYPL’s $100 million gift…
March 13, 2008—Blackstone (BX) filed its first 10-K yesterday morning and given its year-end results, not to mention its sagging stock price, it’s not surprising that the company spent 27 pages highlighting potential risk factors. Among our favorites is the one where Blackstone warns about the difficulty of sustaining growth as a public company: These requirements may […]

WaMu’s $1,325 an hour consultant…
March 4, 2008—We don’t mean to pick on Washington Mutual (WM) — really we don’t. But we’d be remiss if we didn’t point out this exhibit to the 10-K that they filed late Friday (which we already footnoted here). That’s because according to the agreement with former Chief Legal Officer Fay Chapman, Washington Mutual will pay Chapman […]