Dole Food upcoming IPO, recent news

Dole’s value drops by half in 6 years, to $1.2 billion from $2.5 billion. Dole IPO is set for this week with an expected price around $14. Bond trading near/above par recently. Dole Drops Lawsuit Against ‘Bananas!’ Filmmaker

Dole Food IPO

Dole Food to go public in $500M IPO [2009/08/14, Pacific Business News]. Just noticed this morning. Dunno what to make of it.

Bankruptcy and unsecured debt

Southwest submits $170 mln binding bid for Frontier. Interesting to me mostly for the value offered to unsecured creditors. Noted here for future reference. Southwest officials said their deal would give unsecured creditors 12 cents on the dollar, higher than the 8.7 cents per dollar outlined in a bid by Republic.

Investing in guns

Was chatting about investments last night, and the topic of gold stocks came up. Thought I had jotted this quote down somewhere else a long time ago. When asked for advice on investing in gold, Scott Burns replied: I wouldn’t buy gold except as insurance against chaos, and if I were worried about chaos, I’d Investing in guns

Paperless statements revisited

What a mess.  Switched to paperless statements for one of my cards, and the email notification promptly ended up buried in my to-do bin.  Due to the sudden death of my desktop and the distraction of Hurricane Ike, I forgot to make payment and was hit with a substantial late fee and finance charge.  Noticed Paperless statements revisited

Better Banking Checking update

Not a major loss (current APY is a meager 0.02%) but worth noting: BEGINNING 6/18/08 CHASE BETTER BANKING CHECKING ACCOUNTS WILL NO LONGER EARN INTEREST.

Bonds in distress

My current fave, rated Caa1 (Moody’s), matures in 2013 with a yield running just over 11%. Just noticed a Continental issue maturing in 2011, rated B3 (one notch higher), yielding close to 20%. Yikes. Can it survive for 3 1/2 years more? I’ve had success with CO in the past, but airlines look like a Bonds in distress

The fixed rate that wasn’t

National Power to forgo increase, keep rate at 11 cents per kilowatt-hour. National Power Co tried to hike rates for fixed rate customers, and then changed its mind after chatting with the PUC. I was considering NPC as a supplier a while back, but I imagine this incident is going to be a business killer. The fixed rate that wasn’t