Seeking Alpha Predicts Bankruptcy for Frontline ( FRO)

Please see our prior articles on the shipping sector – the light at the end of the tunnel appears to be moving farther from sight. NEWL went down to a zero valuation, others are gone but the rising inventory of ships and lack of economic ( world) recovery is still working its magic against the remaining players in the sector.
Summary

Frontline is now facing the likelihood of insolvency thanks to a $190 million bond coming due in April.
With three quarters to go until the note is due, rates would have to average around $40K for VLCC and $34K for Suezmax.
While the industry is heading into a cyclical high season, it’s unlikely rates will average what is needed.
Investors should avoid Frontline due to the risk of bankruptcy.

The Baltic Dry Index recovered from a low of below 800 to near 2000 before reversing again – now just over 1000 it is only 10 % of its prerecession high .

Don’t look to pick the bottom . Look to our other recommendations – like Tim Hortons to secure profits each quarter- just keep the shipping sector on a watchlist. It has great potential but they used to say the same thing about me.

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Why Burger King / Tim Hortons Will Work – Tax Magic

reprinted from http://taxhavenguru.wordpress.com/

Corporate Income Tax Rates Around The World : U.S. Third Highest
Posted on August 30, 2014 by jackbassteam

The United States Has the Third Highest Corporate Tax Rate among 163 Nations

( – which is why our Tax Minimization System is so effective – contact information at the end of this discussion. However , if you cannot understand why paying 3 cants of every earned dollar is better than 35 % read no farther)

The top marginal corporate tax rate among the 163 countries surveyed was the United Arab Emirates, which has a top rate of 55 percent . This is followed by the African nation of Chad (40 percent). The United States, with a combined top marginal tax rate of 39.1 percent (consisting of the federal tax rate of 35 percent plus the average tax rate among the states), has the third highest corporate income tax rate in the world. In contrast, the average across all 163 countries and tax jurisdictions is 22.6, or 30.6 percent weighted by gross domestic product.

Every region in the world except for Oceania is represented in the top twenty countries. Six of the top twenty countries are in Africa and five are in Asia. The nine remaining countries are in South and North America.

Other large nations in the top twenty countries besides the United States are Japan (37 percent), France (34.4 percent), Brazil (34 percent), Pakistan (34 percent), and India (34 percent)

The key findings of the latest summary of worldwide corporate tax data published by The Tax Foundation are:

The United States has the third highest general top marginal corporate income tax rate in the world at 39.1 percent, exceeded only by Chad and the United Arab Emirates.
The worldwide average top corporate income tax rate is 22.6 percent (30.6 percent weighted by GDP).
By region, Europe has the lowest average corporate tax rate at 18.6 percent (26.3 percent weighted by GDP); Africa has the highest average tax rate at 29.1 percent.
Larger, more industrialized countries tend to have higher corporate income tax rates than developing countries.
The worldwide (simple) average top corporate tax rate has declined over the past decade from 29.5 percent to 22.6 percent.
Every region in the world has seen a decline in their average corporate tax rate in the past decade

You and Your Company Can Achieve Gold Standard Tax Reduction With Our System – if you act . Common Sense Demands : Move Your Money to A Low Tax Jurisdiction.

Effective and efficient are the hallmarks of money management – are they they hallmarks of your tax planning ?Personal concerns over privacy are as important and the jurisdictions we use value that secrecy to the extent it is part of their banking and tax codes.

Yes we have to charge for putting all this in place – because unlike your fairy godmother our creditors demand payment as bills become due . Don’t begrudge the workman his due.

If you want total control you must open both a corporation and a bank account in a low tax jurisdiction ( usually referred to as a tax haven) – and you will have to pay to get that done by a reliable party PERIOD – is that clear enough ? Developing a tax strategy is not the same as walking into the mall and opening a checking account.

Tax Haven Savings – Contact Information

Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ? Information must proceed action and that is why we offer a no cost / no obligation inquiry service.

Email info@ jackbassteam.com or
Call Jack direct at 604-858-3202 – Pacific Time 9:00 – 5;00 Monday to Friday

The main intention of our website is to provide objective and independent information that will help the potential investor to make his own decisions in an informed manner. To this effect we try to explain in a simple language the different processes and the most important figures involved in offshore business and to show the different alternatives that exist, evaluating their pros and cons.
On the other hand we intend – in terms of offshore finance, bringing these products to the average citizen.

Do something to help yourself – contact Jack A. Bass now !

Panama Bank Secrecy

Panama Bank Secrecy. the title  says it all

Here is what are clients can rely upon – our due diligence and guidance in selecting incorporation, trust and bank vehicles – plus the nation’s laws:

Article 111 of the Panamanian banking law states the following:

ARTICLE 111. BANKING CONFIDENTIALITY. Banks will only divulge information about its clients or their operations with their consent. Banks will not require consent from their clients in the following cases:
When the information is required from the authorities according the law.
When from their own initiative it must be provided in compliance with laws related to the prevention of money laundering, financing of terrorism, and related crimes.
Rating agencies for risk analysis purposes.
To data processing agencies or offices for operational or accounting purposes.

Our Panama Offshore and Financial Services

Panama tax haven is a leading offshore jurisdiction for companies and foundations.  Other offshore services are available to investors who are interested in operating or investing in Panama in one way or the other.  Panama is a true tax haven and levies zero tax on all offshore operations.  Panama tax haven offshore services can be summarized as follows:

  • Panama Corporation formation
  • Panama Foundation formation
  • Offshore banking
  • Vessel registration
  • Real estate brokerage
  • Capital/financing procurement
  • Trademark registration
  • Investment brokerage

We’ve Done All the Research
First, we’ve done all the research and conveniently gathered all U.S. and International regulations pertaining to Information Technology, Physical Security, Records Management, Privacy, and Third Party Invoicing into one place

We Help You Map the Overlap Between Regulations
Track compliance regulations, standards, and contractual agreements (Authority Documents),their changes, their individual originators and issuers, and their terms and acronyms

Developing a tax strategy is not the same as walking into the mall and opening a checking account.

Tax Haven Savings – Contact Information

Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ? Information must proceed action and that is why we offer a no cost / no obligation inquiry service.

Email info@ jackbassteam.com or
Call Jack direct at 604-858-3202 – Pacific Time 9:00 – 5;00 Monday to Friday

The main intention of our website is to provide objective and independent information that will help the potential investor to make his own decisions in an informed manner. To this effect we try to explain in a simple language the different processes and the most important figures involved in offshore business and to show the different alternatives that exist, evaluating their pros and cons.
On the other hand we intend – in terms of offshore finance, bringing these products to the average citizen.

Do something to help yourself – contact Jack A. Bass now !

Gordmans Stores BUY More then a double BUY

GMAN : NASDAQ : US$3.96
Target Price $ 9.00
COMPANY DESCRIPTION:
Gordmans Stores is an everyday value price retailer
offering merchandise up to 60% off department and
specialty store prices. The company operates nearly 100
stores in 20 states, located in multiple shopping center
formats including regional shopping malls, lifestyle
centers, and power centers. The merchandise
assortment consists of apparel, home fashions, and
accessories including fragrances.

Consumer & Retail — Specialty Retail
WE AWAIT IMPROVED Q2 PRODUCT AS AGED INVENTORY HAS BEEN CLEARED
Investment recommendation
GMAN generated a Q2 loss of ($0.16) per share, in line with our
estimate and a penny below consensus. As expected, the
company spent the bulk of Q2 clearing out stale inventory ahead
of H2. The higher level of markdowns resulted in 95bps of yr./yr.
gross margin contraction in Q2, which did not come as a surprise
to us. We believe this was necessary to make room for an
improved product assortment, including the recent launch of a
Missy contemporary department. Gross margin should begin to
recover in H2 as better product rolls into stores. We believe SSS
will be slower to rebound, however, and we are lowering our Q3
SSS forecast to -5% on top of -6.1% versus our prior flat estimate.
This pushes our Q3 EPS estimate from $0.02 to ($0.09). We
continue to believe GMAN’s long-term recovery potential is not
reflected with shares trading at 0.2x C2015E EV/revenue.
Investment highlights
The appointment of department store veteran Andrew Hall
as CEO should bring some stability to GMAN. Hall spent six
years at Stage Stores, including a run as CEO from 2008-
2012, and 13 years prior at May Department Stores.
We are reducing our price target from $10 to $9 based on
our DCF model. There is still notable turnaround risk here,
but we believe investors will be paid for their patience.

Google To Release Two New Smartphones – One Giant

Google is reportedly planning to release two new smartphones this year, one with a 5.9-inch screen and another with a 5.2-inch display, according to Phone Arena’s Michael Heller.
Rumors about Google’s next smartphone have been circulating the Web for months.

We first heard that Google is planning to launch a giant phablet-sized Nexus phone back in July, when Android Police said the device would debut in November. The phone was believed to be a joint effort between Google and Motorola, but Android Police’s report suggests it will launch under Google’s Nexus brand.

At the same time, Motorola has been rumored to be working on two new smartphones — its flagship successor to the Moto X known as the Moto X+1, and a separate device called the Moto S.

Motorola is believed to be testing two different model sizes for this Moto S — a 5.2-inch version and a 5.9-inch variant. This isn’t to be confused with Google’s alleged Nexus X, since Phone Arena says a 5.9-inch Nexus X is already scheduled to go to market. From what we understand, it sounds like the Moto S is a separate device and Motorola is testing it in two different sizes.

Which size makes it to market will depend on the success of the Moto X+1, which is said to be slightly larger than the 4.7-inch Moto X.

So how does this relate to Google’s new Nexus smartphones?

If Motorola decides to bring its 5.9-inch version of the Moto S to market instead of the 5.2-inch model, Google may repurpose that smaller Moto S and brand it as a second Nexus device. So, depending on Motorola’s choices, Google could launch a 5.9-inch Nexus phablet and a smaller 5.2-inch Nexus phone.

A 5.9-inch screen is unusually large for a smartphone. In fact, it’s just about one inch shy of a tablet. The Samsung Galaxy Mega, which comes in both 5.8- and 6.3-inch sizes, is the only other phablet that would compare in size to Google’s upcoming giant smartphone.

There’s no word on when we should expect these phones to debut, but last year Google quietly unveiled its Nexus 5 smartphone and Android 4.4 KitKat at the end of October. It’s also important to note that Google hasn’t confirmed any plans to release new smartphones in its Nexus line just yet.

Question: How do you get the giant in your pocket?

Workday Raising Target Price to $110

WDAY : NYSE : US$90.30
BUY
Target: US$110.00

COMPANY DESCRIPTION:
Workday provides enterprise-scale, cloud applications
that deliver the core functions for global customers to
manage the human capital and financial resources of an
organization. Solutions include: HCM, Financial
Management, Payroll, Time Tracking, Procurement,
Employee Expense Management, etc. Workday was
founded by the former founders of PeopleSoft in 2005
and is headquartered in Pleasanton, CA.

Technology — Enterprise Software — Software as a Service
THE MOMENTUM CONTINUES: ANOTHER EXCELLENT QUARTER
The obvious comment is that Workday’s EV/revenue multiple is high. What is less
obvious is that the likely decay of this multiple to a more reasonable, 6-8x forward
estimates could take longer to reach than expected. The combination of marquee
customer wins in HCM (like BofA in the quarter), new referenceable logos for
Financials, and success with the firm’s Analytics add-on could keep revenue growth
faster for longer than expected. Our only small nit is that we would like to see a
continuation of profit upsides from this management team so that they can
demonstrate that they deserve to be compared to Salesforce.com, which was more
profitable at WDAY’s current revenue level. We believe investors should own at least
a partial position in this industry-altering firm in any growth-oriented portfolio.
 Another meaningful upside. Workday reported Q2/15 revenues, calculated
billings, and FCF loss of $186.8M (+74% y-o-y), $206.3M (+56% y-o-y) and
$37.4M, which were respectively $9.8M, $21.3M, and $35.0M ahead of our
estimates. Subscription revenues grew 77% y-o-y, and non-GAAP EPS loss of
($0.11) was $0.04 better than our forecast.
 Color from the call. After bringing HP, the firm’s largest customer to date, live in
Q1, WDAY announced that it signed an HCM deal with Bank of America and its
300k employees in Q2, now making that firm its largest customer. WDAY ended
the quarter with >700 HCM customers and nearly 100 Financials customers.
While the firm saw strength across the board, management noted particularly
strong results in Europe and within Financial Services, including two Fortune
500 deals in that sector. Lastly, WDAY’s services ecosystem continues to grow
nicely, with both HP and CSC announcing plans to build deployment practices.
 Guidance increased again. WDAY guided Q3/15 estimates above the Street and
increased F2015 revenue targets by ~$25M. F2015 bookings growth is expected
to be roughly 60% and non-GAAP operating losses were trimmed to the high
single digits. Longer-term, management did note that the firm does not expect to
be non-GAAP profitable in F2016, which shouldn’t come as a surprise.

Warren Buffet’s Advice For Aspiring Millionaires

Buffet’s Advice: Any financial advisor who doesn’t suggest that you (a) diversify your investments and (b) use offshore banking and offshore incorporation in some way – is doing you a serious disservice.
from Advice for The Middle Class Aspiring Millionaires

Warren Buffett Has Some Brilliant Advice For Investors Freaked Out About GeoPolitics

warren buffett

AP Images

Warren Buffett.

2014 has been unnerving.Every day, a new worrisome headline comes out of Russia, Iraq, Libya, the Gaza Strip, or any of the world’s other geopolitical hotspots. And there’s the ongoing fears of an Ebola outbreak in West Africa, an unstable volcano in Iceland, and the ever-present risk of a solar flareknocking out the world’s communications networks.

We’re now reading that Russia is invading Ukraine, which has caused U.S. stock market futures to tank.

So, what are investors to do?

Warren Buffett would probably recommend taking a step back, reflecting on history, and then looking to the future.

Any financial advisor who doesn’t suggest that you (a) diversify your investments and (b) use offshore banking and offshore incorporation in some way – is doing you a serious disservice. from Advice for The Middle Class “Aspiring Millionaires “http://taxhavenguru.wordpress.com/

During the darkest days of the financial crisis in 2008, Warren Buffett wrote a brilliant op-ed for The New York Times, reminding us that bad things happen all of the time. Here’s an excerpt:

A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.

Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

Buffett made a similar statement in his 1994 letter to Berkshire Hathaway shareholders:

We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%.

But, surprise — none of these blockbuster events made the slightest dent in Ben Graham’s investment principles. Nor did they render unsound the negotiated purchases of fine businesses at sensible prices. Imagine the cost to us, then, if we had let a fear of unknowns cause us to defer or alter the deployment of capital. Indeed, we have usually made our best purchases when apprehensions about some macro event were at a peak. Fear is the foe of the faddist, but the friend of the fundamentalist.

http://taxhavenguru.wordpress.com/

Warren Buffett Has Some Brilliant Advice For Investors Freaked Out About Geopolitics