The new economy revisited?(Broad spectrum not broad vacuum?) Info highway/clean efficient transportation vs capital intensive mining and oil e&p.
Assorted news stories from early week. PVSAX Putnam Capital Spectrum Fund Class A +0.
58(+1.48%) and PYSAX Putnam Equity Spectrum Fund Class A +0.
58(+1.32%) both have a large stake in DISH that gave them a nice gain today.They both trail SPY Y T D but both have strong
5 year returns.
Another wild-card bidder is Dish Network. There has been speculation that Dish Chairman Charlie Ergen wants to drive bidding prices up to help increase the value of the nearby airwaves licenses that Dish owns
Nov 19, 6:40PM EST
DISH 74.66 +6.81 (+10.04%)
Statoil (NYSE:STO) says it will suspend operations of two offshore drilling rigs for at least the rest of the year, with no plans for redeployment, citing overcapacity.
Transocean slides as fleet update shows more rigs idled
http://seekingalpha.com/symbol/RIGClosing the mine is not CLF's first choice, but an attempt to find partners to share the cost of expansion appears to have failed, and selling a mine that needs $1.2B in capital is a doubtful prospect; even Teck Resources (NYSE:TCK), long interested in breaking into the iron ore business, isn't biting.If a sale process fails, a closure of Bloom Lake would close the books one of the worst acquisitions in the history of Canadian mining.
http://seekingalpha.com/news/2138385-cliffs-massive-closure-costs-for-bloom-lake-stuns-investorsBidding in the FCC's AWS-3 spectrum auction have reached $24.1B barely 24 hours after topping $14B. Through 1
5 rounds, $1.19B alone was bid on a 10x10 MHz. license for the NYC area.
http://seekingalpha.com/news/2138395-spectrum-bids-top-24b-at-and-t-verizon-seen-spending-heavilyLinked from S A article
http://recode.net/2014/11/19/wireless-auction-attracts-whopping-24-billion-in-bids-so-far/"We know there is a good potential in India for Tesla," Mr Vijayan said, adding "based on demand there could be a manufacturing plant in Asia and India could be one of the possible locations".
He said Tesla has been working to produce affordable electric car to cater to the mass segment."With our 3rd generation car Tesla Model 3, we are looking to make it more affordable at a price of around USD 30,000-35,000, which is about half of our current Model S," Vijayan said.The company has a manufacturing plant at Freemont in US that can roll out half a million units annually (If Tesla can achieve that $30-3
5 thou price point they'll probably be able to put a plant anywhere they want!)
http://profit.ndtv.com/news/industries/article-tesla-keen-to-enter-india-but-says-high-import-duty-a-roadblock-700069Norwegian Air CEO rejects criticism of plan for U.S. budget airline
BY ALWYN SCOTT AND JEFFREY DASTIN
NEW YORK/SEATTLE Wed Nov 19, 2014 8:09pm EST
Norwegian is one of the first airlines trying to bring low-cost flying to long-haul flights. It has a fleet of 17 Boeing 787 Dreamliners and plans to order at least five to 10 more.
Kjos said the Irish subsidiary is necessary to obtain access for all of Norwegian's aircraft to fly between the United States, Europe and Asia. If the company is only incorporated in Norway, it does not have access to many countries in Asia, since Norway is not part of the European Union. That would leave Norwegian running two airlines that separately serve the United States and Asia, and not able to shift aircraft from one region to the other.
They (opponents)say Norwegian will dodge U.S. labor laws by using its Irish subsidiary to take advantage of labor laws that are weaker than in Norway, threatening U.S. jobs.
"It would be a logistical nightmare," Kjos said. "We can't have one airline flying east, one airline flying west."
http://www.reuters.com/article/2014/11/20/us-usa-airlines-norwegian-air-idUSKCN0J402I20141120By COSTAS PARIS Copyright W S J
Updated Nov. 17, 2014 8:49 a.m. ET
(paste and copy)
LONDON—Shipping freight rates from Asia to Europe, the world’s busiest trade route, on Monday logged their biggest-ever weekly drop, as European growth is stagnating and Japan just fell back into recession.
Container-shipping volumes are considered an important barometer of the global economy. Container ships move items as diverse as household goods, apparel, toys, electronics and food. Analysts said they expected further shipping-rate weakness because the peak demand season for Asian exports ahead of the end-of-year holidays is already over.
Prices between Asian and European ports fell 21% per 20-foot container to $934, compared with $1,17
5 at the beginning of last week, according to the Shanghai Containerized Freight Index.The benchmark Asia-to-Europe rate stood at $1,76
5 per container at the start of the year.
“Shipping lines have at this point lost control over freight rates,” said Jonathan Roach, container-shipping analyst at London-based Braemar ACM Shipbroking. “They are desperately trying to fill their ships while being hit by a double whammy: a renewed global economic slowdown and a persistent overcapacity of ships.”
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http://online.wsj.com/articles/asia-europe-shipping-freight-rates-suffer-record-weekly-fall-1416226192TV Studios Court Licensing Deals in Bustling Foreign MarketsBy AMOL SHARMA
Nov. 19, 2014 10:33 p.m. ET Copyright W S J (paste and copy)
For Warner Bros. and other U.S. studios, the international TV-licensing bazaar has never been more lucrative
Licensing content to foreign TV channels is one of several ways U.S. media companies are tapping into growing overseas markets as they contend with a maturing pay-TV market at home. The U.S. growth in pay-TV subscriptions over the past 30 years has fueled the profits of TV channels and, in turn, created higher demand for the content studios like Warner produce.
Now, U.S. cable and satellite connections have peaked at around 100 million households, representing 86.
5% penetration. That compares with an average penetration of just 48% across non-U.S. markets in 2013, according to securities firm Jefferies, leaving plenty of room for growth in European, Asian and Latin American markets.
As new international channels launch, they have voracious demand for content. The price paid by international networks for TV programming is growing at a double-digit pace, says Morgan Stanley analyst Benjamin Swinburne. “American studios have a huge advantage,” he said. “They can afford the kind of production budgets that most national players in their own market can’t.” (Content sales also go the other direction, of course, and U.S. TV networks have long licensed reality shows from foreign producers and are ramping up on scripted content, too.)
(subscription)
http://online.wsj.com/articles/tv-studios-court-licensing-deals-in-bustling-foreign-markets-1416454383?mod=WSJ_hp_RightTopStories
