Topic: Risk Factors

— 2640 items —

Wyndham warns on subprime, immigration…
March 4, 2008—It’s no longer news that the subprime crisis is, directly or indirectly, hitting companies in all sorts of industries, or at least making them nervous. Take Wyndham Worldwide (WYN). Wyndham has been busy selling timeshares to would-be vacationers (the company brags that it has the world’s largest “vacation ownership” business), but warns in its 10-K, […]

Cutting back at Citigroup…
February 25, 2008—Apparently, Countrywide Financial (CFC) isn’t the only lender cutting back on some perks that might not be viewed in the best light, given the current subprime mess. Citigroup (C), which has also been caught like a deer-in-subprime headlights, is also paring back, judging by this exhibit attached to the 10-K the banking giant filed late […]

What 10-Ks have in common with Barack Obama…
February 21, 2008—Barack Obama is not the only one thinking about “change” right now. Here at Footnoted we’re also interested in change – namely, the ways that some companies’ 10-Ks have changed from last year’s versions. While these year-to-year comparisons highlight important trends in recent filings, e.g., the increased popularity of terms like “subprime” and “monoline exposure,” […]

No sugar-coating at Lennar…
January 30, 2008—Earlier this week, there was news that new home sales continued to decline and that it was even worse than the forecast. If that wasn’t scary enough, take a look at the 10-K that home-builder Lennar (LEN) filed late yesterday. Now Lennar is a bit more blunt than some of the other home-builders. Or, perhaps […]

Straight talk from Ambac…
January 28, 2008—Late Friday, bond insurer Ambac (ABK) filed this 8K disclosing both a subpoena from the state of Massachusetts and a class action lawsuit, which had been reported earlier in the week (attorneys aren’t usually shy about sending out press releases) and which you can read about here. But it was the last part of the […]

HP says: It’s the economy, stupid…
December 19, 2007—Hewlett-Packard (HPQ) filed its 10-K late yesterday and there were so many interesting details in the 182-page filing that it’s hard to know where to begin. But the thing that really seemed to resonate throughout was growing concerns about the economy and what impact that was likely to have on HP. The K comes on […]

Some post-Thanksgiving turkey…
December 6, 2007—The classic holiday tearjerker It’s a Wonderful Life seems especially poignant this year, with kindhearted banker George Bailey making what might be subprime loans to residents of Bedford Falls. Of course, if not for George, cute Bedford Falls would be the sleazy and depressing town of Pottersville. The proxy statement filed Tuesday by Pilgrim’s Pride […]

Now you tell us…
November 30, 2007—Flipping through the 10-K that Bank United (BKUNA) filed late yesterday, I found myself doing a double-take when I got to this sentence on pg. 49: Forty-two percent of our one-to four family residential loans were underwritten based on borrower stated income and asset verification and an additional 9% were underwritten with no verification of […]

On Disney moving (and more from Disney’s 10-K)…
November 26, 2007—Anyone who’s ever been to Disney World near Orlando knows that it’s a pretty big place that seems to stretch on forever. But the 10-K filed by Walt Disney Co. (DIS) late Wednesday had an interesting disclosure that shows that the company continues to sell land in Florida on top of the land sold last […]

On Sub-primeitis (or the sub-prime ate my homework)!
November 20, 2007—Last week was unusually busy in terms of filings, with the bulk of non-accelerated filers whose quarter ended Sept. 30, required to get their Qs in by Wednesday (the deadline for accelerated filers was Nov. 9). So it seemed like a good time to see just how many companies, and, perhaps more importantly, which ones, […]