Epazz(EPAZ) continues to push the envelope on the bare minimum of substance a spinoff must have. Consider its latest gem of a press release: Epazz a leading provider of cloud based business software solutions, announced today that the Company is moving quickly forward with the Project Human Mobile Power spinoff. Epazz is currently working with a Patent attorney… Read More »
In July 2007, when Rio Tinto(RIO) announced it would be purchasing Alcan for $38.1 billion in the largest mining acquisition ever, new CEO Tom Albanese was ecstatic. His bold move, beating out a $27 billion hostile bid from former Alcan parent Alcoa(AA) proved disastrous. Earlier this year, Albanese was forced to resign after writing down over $25 billion… Read More »
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 »
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 »
We admit that our knowledge of Australia is limited beyond knowing that it has immense strategic value in RISK. Given that, it’s not surprising that we had never heard of Amcor(AMC.AX,AMCRY), which turns out to be the worlds largest packaging company with a market capitalization exceeding $11 Billion. Until we heard today that it plans to spin off… Read More »
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 »
Time Warner (TWX) has found its man to helm its upcoming magazine spinoff, naming former executive Joseph Ripp as CEO of Time Inc. Mr. Ripp served various roles at Time Inc and Time Warner over a 20 year career there and is expected to join the company in September. He is currently CEO of OneSource Information Services and… Read More »
The long saga of Elan’s (ELN) corporate future seems to be coming to an end as the company agreed to an $8.6b takeover by drug company Perrigo (PRGO). The deal is a mix of cash and stock, with shareholders receiving $6.50 in cash and 0.07636 shares of New Perrigo for each share of Elan owned. Putting it all… Read More »
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 »
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 »
Just a day after Tribune (TRBAA) announced that it would be separating its publishing assets into a new company, speculation has already started about who will be the next media company to follow the breakup trend. With News Corp’s (NWSA) spinoff completed and Time Warner’s (TWX) on track, the WSJ tossed out Gannett’s (GCI) name as a possible… Read More »
Months after caving into demands from activist investor Nelson Peltz to break itself up, Ingersoll-Rand (IR) has started releasing details on its commercial & residential security spinoff. The new company will be named Allegion and is expected to trade on the NYSE under the ticker ‘ALLE’. According to the press release, the name was chosen because it represents ‘the… Read More »
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 »
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 »
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 »