Archive for May, 2014

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Apple vs. Banks in Mobile Payments: Update

The first media reports[1] appeared today of Apple’s discussions with retailers around a mobile payments system where payments are integrated into a premium shopping experience relying on wireless communication between iPhones and iBeacons (as piloted already in a few Apple

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Quick Thoughts: The Problem isn’t Net Neutrality, It’s Monopoly Power

–          Arguments around “net neutrality” are missing the point – in a competitive market for broadband, consumers and content providers wouldn’t need protection from regulators –          Cable modem is the ONLY broadband service fast enough for NFLX in 60% of

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Quick Thoughts – HSH, TSN and PPC (Second Verse, Same as the First?)

This morning, TSN announced a proposal to acquire HSH for $50 per share in an all cash deal, effectively trumping PPC’s $45 per share offer that likely hadn’t even had time to cool off it was so fresh out of

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WFC: The Bull Case by the Numbers

With WFC “at or near” its target capital model (bar some preferred issuance to meet liquidity requirements) and easing of two of the three margin headwinds (from the liquidity build and negative re-pricing of assets), the bank is well positioned

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Westlake – Another Interesting Move – Vinnolit

We have written about some of the opportunities to move the US shale advantage to Europe.   While they are limited, they revolve around cost effective ways of moving low cost molecules from the US to Europe – or other parts

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Quick Thoughts: A Happy Summer for AAPL Investors, but Winter is Coming

–          This year’s WWDC rumors are kinda meh – a connected home app, “Healthbook”, a minor iOS update, and a significant OS X release – no iPhone6, no iWatch, no new AppleTV box. –          A Beats deal could be announced

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Quick Thoughts – HSH, PF and PPC

This morning, PPC sought to derail HSH’s proposed acquisition of PF by announcing an unsolicited bid for HSH of $45 per share (all cash). Putting aside the numbers for a moment, this deal makes much more sense to us if

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DuPont/Tronox – The Math Says Yes – The Rest Says No

There is recent speculation that DuPont may explore a reverse Morris Trust (RMT) option as a means of divesting its performance chemicals, with Tronox as the “acquirer”/partner.  It is understandable why there would be such speculation – Tronox is the

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Quick Thoughts: Tesla – Green Performance with No Compromises

–          Elon Musk expects TSLA to leapfrog the $2T auto industry by offering electric vehicles without performance compromises and radically revamped sales and customer service experiences. –          TSLA’s strategy – starting with the high performance segment, investing in a charging

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Apple vs. Banks in Mobile Payments

Based on its patent filings, we expect Apple to extend its Passbook app (currently reserved for gift cards) so that it is compliant with EMV contactless and tokenization standards. This means customers, via their banks, can enable iPhones for mobile

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