Inelegant Investor

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Author Archives: Inelegant Investor

Thursday The Rabbi Went Hungry- Straight Path Begins Trading Down Sharply

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As expected, Straight Path Communications(STRP) began trading today following its spin off from IDT(IDT). We previously described the interesting background of the new company’s CEO, David Jonas(we wonder how many other pulpit Rabbis run public companies). Rabbi Jonas is quite optimistic about the company’s prospects: SPCI’s President & Chief Executive Officer, David Jonas, said, “The spin-off of Straight… Read More »

Harvard Apparatus Regenerative Technology Files Form 10 Moving Spinoff From Harvard Bioscience Closer

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When we last checked in with Harvard Apparatus Regenerative Technology in late March, it was days away from an April IPO of 17% of its stock by parent Harvard Bioscience(HBIO). Soon afterwards, HBIO announced the postponement of the IPO, citing market conditions. On May 1, the company abandoned its plan for an IPO and declared it would spin… Read More »

One Worthless Spinoff Not Enough For You? Epazz Offers A Second

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With the ink barely dry on its press release announcing the spin off of Project Flex(now known as Cooling Technology Solutions, Inc.), Epazz(EPAZ) has announced a second spin based on a vaporous idea.  The company announced a heretofore unmentioned “business” that it would be spinning off that it is calling Project Human Power. What does this business do?… Read More »

Epazz Sets Date For Spin Of Concept It Doesn’t Feel Is Worth Discussing

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Call us old fashioned, but we believe a public company should be a working business- not merely an idea.  Shaun Passley, CEO of Epazz(EPAZ) clearly disagrees. As we discussed last week, he plans to spin out companies like cake batter from an out of control mixer. Since then, the company has announced its first spinoff, Project Flex, and… Read More »

Telecom Italia Fixed Line Spinoff On Hold After Regulator Cuts Wholesale Pricing

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The Wall Street Journal reports that Telecom Italia(TI) has put its planned spinoff of fixed line assets on hold following a decision by regulator AGCOM to cut the wholesale rates that others firms pay to the fixed line business. After an extraordinary board meeting, the former state-owned company said the continuation of the project is subject to verification… Read More »

Head In The Clouds- Investors Should Take An Epazz On This Vapor Machine

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While we’ve seen press releases  from Epazz(EPAZ) before, we just never bothered writing about it. We hope you’ll forgive us. After all this nanocap has shared no specifics, just hype about a slew of upcoming spinoffs, from a company which itself has a market cap of under $2.5 million.  The company’s hype-filled press release yesterday, titled “Epazz Transitioning… Read More »

Orchard Supply Stock Plunges After Management Says Equity Expected To Be Worthless

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We (and many others) had been puzzled by the strange strength in Orchard Supply Hardware(OSH) equity following its bankruptcy filing earlier this week.  The bubble burst today when the company issued an announcement warning that equity was expected to be a complete loss. Orchard’s management has noticed high trading volume in Orchard’s Class A Common Stock and Series… Read More »

News Corp Publishing Business And 21st Century Fox Begin When Issued Trading

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In the lead up to the separation of News Corp’s(NWSA) publishing arm from its global media business, the two pieces began trading today on a when-issued basis. The parent, global media company, which will be renamed 21st Century Fox and trade under the FOXA and FOX tickers began trading today as FOXAV. The publishing spinoff will take the… Read More »

Barron’s: Magazine Spinoff Good For Time Warner, But Stock Price Is Too High Right Now

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In June, 2012, Barron’s wrote a favorable article about the prospects of Time Warner(TWX).  A year later, with the stock up 63%, Barron’s revisits, and though it continues to like the company’s prospects, it concludes that the stock has gotten ahead of itself.  Barron’s does believe that the upcoming spin off of Time Warner’s magazine publishing division will… Read More »

Zoetis, Newly Spun Off From Pfizer, To Join S&P 500

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As we have written about previously, Pfizer(PFE), after conducting an IPO of 20% of Zoetis(ZTS) in January, has launched an exchange offer whereby shareholders may elect to exchange their Pfizer shares for Zoetis shares.  The offer is expected to be completed this week, and, as a result, the S&P has decided that it is time for Zoetis to… Read More »

Orchard Supply Taken Out To The Woodshed- Will Sears Holdings Reap What It Sowed?

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Eighteen months after it was spun off from Sears Holdings(SHLD), Orchard Supply Hardware(OSH) announced that it had filed for Chapter 11 bankruptcy protection and had reached an agreement for Lowe’s Companies (LOW) to acquire most of its assets.  We had been bullish on Orchard at the time of the spin. We were wrong. In its press release the company… Read More »

A Steal Of A Deal? Dole Takes Another Path: 90 Year Old CEO Murdock Offers To Buy Firm For $12 Per Share

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Last May, we wrote about a strategic review at Dole Food Co(DOLE) that we thought might lead to a spinoff. We haven’t followed up until now and there’s been lots of activity, none of it involving a spinoff, culminating in an offer this morning by Chairman and CEO David H. Murdock to purchase the 60% of the company… Read More »

Covidien Board Approves Mallinckrodt Spin For June 28

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Last Friday, Covidien (COV) announced that its Board Of Directors had given final approval for its long-planned spinoff of Mallinckrodt. Shareholders of record of Covidien as of June 19 will receive one share of Mallinckrodt (MNK) on June 28 for every eight shares of Covidien that they own. The company expects that both Covidien and Mallinckrodt will begin… Read More »