[quote alias=jonas id=5896857 date=201110262102]
Hirsch, ik heb er in het kader van voorzichtigheid i.v.m. die EU-grappenmakerij
al wat geschreven shorts Aalberts, Boskalis afgebouwd. Over blijven Arcadis,Philips en CSM. Hoewel CSM natuurlijk een wanprestatie heeft geleverd van jewelstre heeft geleden zit er wel potentieel in.Vandaag was er een analistenbijeenkomst over de beoogde herstructurering en zo in de loop van de dag gingen ze omhoog. Blijkbaar hebben ze nog vertrouwen in dat waardeloze management. Des te beter want ik heb ook nog CSM-stukken en calls.
Vandaag niet veel tijd voor beleggen dus kort. Dat MS Global Bronds doet het aardig. ING doet het met zijn merkenfonds daarmee vergeleken gewoon slecht.Kunnen ze dus wel opdoeken.
Even nog over dat Vistaprint. Kende ik niet. P/E is 16 en ik zag een grote koersval eind juli. Heeft het met het onderstaande te maken? Tabel pure internetbedrijven en dan
"The Main Street Fairness Act and its Possible Impact on Top500 and Second 500 Internet Retailers
After almost twenty years, a 1992 Supreme Court decision (Quill Corp. v. North Dakota (504 U.S. 298)) that clarified that states cannot force catalog companies and Internet retailers to collect sales tax unless they have an in-state physical presence may be changed if Congress passes a proposed bill called the Main Street Fairness Act (MSFA)).
NYC based BrickHouseSecurity.com Founder Todd Morris states, “This proposal targets "Main Street" small businesses that cannot afford to comply with the overly complex sales tax laws that change from town to town and month to month. It was drafted by the largest international corporations that use legal loopholes to pay much lower corporate taxes than real "Main Street" small businesses. A true main street fairness plan must create a simple flat sales tax that does not require an army of expensive CPAs to comply with.”
O.co (also known as Overstock.com (OSTK)) President Jonathan Johnson says the name of the bill is ironic because it is the handiwork of big-box retailers working to eliminate a growing group of Main Street businesses vital to the economy: small online retailers.
BabyAge.com CEO Jack Kiefer says, “I have little patience for new methods of governmental exploitation. This country has been founded on certain principles, one of which was “No Taxation without Representation”. If my business is required to now pay taxes in all 50 states, would I then have the opportunity to vote in all states?”
Dan volgt commentaar van meer CEO's (Opm Jonas)
In September of 2011, California state legislators approved legislation (AB 155) that exempts online retailers from sales tax collection for another year or more. However, Gov. Brown has not yet indicated whether he will sign or veto this legislation. As part of the tax deal, however, Amazon (AMZN) will work to win support throughout the U.S. for federal legislation that would authorize states to mandate sales tax collection if they have simplified their tax collection policies as part of the Streamlined Sales Tax Project.
About two dozen states participate in the SST. In effect, the proposed new federal law would override existing federal law that says states can’t mandate sales tax collection by retailers unless the retailers have an in-state physical presence, such as stores or distribution centers. However, not a single GOP member of Congress is co-sponsoring the current version of the MSFA. If some sort of federal law is not enacted by July 31, 2012, the provisions of AB 155 would require sales tax collection in California by internet retailers with physical nexus in California by September 15, 2012.
From a financial perspective how would MSFA impact the Top 500 and Second 500 Internet Retailers?
Near Term Revenue Dip - Revenue in the sector is expected to fall between 10.0% and 13.0% in the short run based on detailed data from one retailer and three earlier studies.
High Ticket Items Hit Hardest - Revenue may decline more than 13% for Internet Retailers with high average ticket orders where the online tax savings have been substantial, and more than offset by freight costs and delivery time (e.g. top-tier consumer electronics and jewelry).
Collection Cost is Real - The cost of collecting tax (as a % of collected tax) will range between 13.5% for small retailers to 1.5% for large retailers.
Consolidation of Healthy Channel Players - Large strategics will likely accelerate their acquisition of smaller retailers whose margins are impacted the most by the cost of collecting state and local tax.
Thin and Getting Thinner - Many smaller internet retailers will find it almost impossible to compete if the new rules take place due to the already thin operating margins becoming almost non-existent.
Valuations Falling - Depending on a host of factors (e.g. magnitude of revenue declines and increased collection costs), we expect valuations of Internet retailers to fall by as much as 25%.
No Dance Partners – Even those that can marginally compete are likely to find that large e-tailers no longer find them as attractive due to the new competitive burden placed upon them. Those smaller e-tailers that were at one time hoping to exit at a premium may be disappointed in their ability to even find buyers for the business.
The FOCUS Web-only Retail Index consists of 14 publicly traded pure play e-tailers that represent a diverse range of revenue sizes, categories and products. Index companies include: Amazon, eBay, O.com also known as Overstock, United Online (UNTD), Vistaprint (VPRT), 1-800-Flowers.com (FLWS), Nutrisystem (NTRI), Blue Nile (NILE), U.S. Auto Parts (PRTS), Vitacost (VITC), PetMed Express (PETS), Coastal Contacts (COA.TO), Bluefly (BFLY) and Stamps.com (STMP).
by Bill Maurer" Bron; Seeking Alpha 9-10-2011 oook via Nasdaq en quote van Vistaprint te vinden.
Overigens beleg ik even niet in de US (m.u.v.Delta Investmentfonds). Ik geef je op een bordje: na EU-gedonder volgt US-gedonder!
Groet, Jonas.
Compliment: gaat tenminste eens over aanddelen
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Dank Jonas.
Postings die over aandelen gaan zijn schaars.
Aandeelhouders CSM zullen waar voor hun geld gaan eisen.Dat duurt niet lang meer.
In de peroide van 1966 tot 1997 was het gemiddelde rendement op jaarbasis 18,1%.
Alleen Elsevier, Nedap en Beers presteerden beter.
Ik verwacht dat CEO Gerard Hoetmer het veld zal moeten ruimen.
Hij is te lui om te werken en maakt de verkeerde keuzes.
Het bedrijf heeft onder een betere leiding veel potentie.
De koersval van Vistaprint is het gevolg van negatieve publiciteit.
Donderdag zullen we zien welke de kwartaalresultaten zijn.
Ze staan bij mij op de kooplijst.
Groet.