Weekly Wreck

Delivered to major institutional investors and parties interested in proxy matters; our recommendations are received by most major investors.

The Writing on the Wall - Don't Count on Social Security?

April 16, 2018
With the return of trillion-dollar deficits, the question becomes what are the consequences? Probably not much in the short term, possibly an overheated economy from spending, but higher interest rates (another outcome) will probably fix that. Certainly, the will to cut costs on either the left o... Read More

Facebook - Could a Better Board Improve Shareholder Return?

April 10, 2018
As the tide of public perception turns against big tech, Facebook [FB] stands out as one of the most vulnerable firms. Being dependent on essentially selling the personal information, the likes and activities of its users Facebook has always occupied a somewhat precarious position in the tech eco... Read More

Amazon - Beginning of the End Game?

April 02, 2018
Many CEOs forget that their companies are successful only because the laws and regulations as enforced enable them to be so. Often small tweaks in how a regulation is enforced or the dusting off by a prosecutor of some long forgotten law will put the very existence of what had been a successful a... Read More

Mattel - Are Bad Toys the Problem?

March 26, 2018
With the Toys R Us liquidation sales started across the nation it’s tempting to blame the brands end on bad management and a hostile sales environment. But what if the real problem is with the toys? Manufactures like Mattel, Inc. [MAT] have for decades been pushing toys that make noises and... Read More

Wells Fargo - Just Can't Keep Their Heads Down

March 19, 2018
"With all due respect, I'm against dumb." - Senator Neely Kennedy (Rep.) at the October 3rd Wells Fargo Testimony (grilling) before Congress. You would think that after being berated by members of Congress, being banned from growing by the Federal Reserve and still waiting for the results of ong... Read More

Alphabet - Risky Investment?

March 13, 2018
With its dual-class voting structure and subsequent control of the company by a few insiders in management Alphabet [GOOGL] has always been a questionable company from a governance standpoint. This, the lack of a dividend and the many expensive and questionable "other bets" probably explain why t... Read More

Fluor Corporation - soon to be the first casualty of the trade war?

March 05, 2018
With the newly imposed tariffs on steel and aluminum imports into the US and the resulting price increases and trade disruptions, it’s hard to guess which company will feel the worst effects first. One likely candidate is construction and engineering giant Fluor Corporation [FLR]. With a on... Read More

Broadcom - Is its Takeover of Qualcomm DOA?

February 26, 2018
Qualcomm [QCOM] hasn't had a very good year. We don't see anyone either inside or outside of the firm saying they are "happy" with shareholder return over the last year. Obviously the ongoing and as yet unsettled Apple suit is not helping. All of this provides the opportunity for a big player to... Read More

Fujifilm - will it be forced to make a better offer?

February 21, 2018
With Fujifilm's announced acquisition of partner firm Xerox, doubt about the transaction seems to be significant in the case of more than one major shareholder. Both Carl Icahn and the firm's third-largest shareholder, Darwin Deason have expressed doubts about the transaction. Indeed Darwin Deas... Read More

Lockheed Martin - is its technology out of date?

February 12, 2018
With the successful launch and technology demonstrations of SpaceX's new Falcon Heavy, the natural question is who stands to lose business to this new rocket and the follow-on BFR (Big "Falcon" Rocket). While all the legacy players stand to lose, probably the biggest impact will be on NASA/DOD c... Read More