Some More Orange Cones Get Removed From The Exit Ramp
On the first day of journalism school, one learns the iron-clad rule that three’s a trend. So we may be 33.3% short of an official trend, but a few weeks after news of a planned dividend recap for an auto parts company backed by KPS Capital Partners, there’s another indicator that the cash-to-clunkers ratio in the sector is improving.
TRW Automotive Holdings Corp. just announced an 11 million-share secondary stock offering. Blackstone Group plans to sell 10 million shares in the offering, according to a filing with the Securities and Exchange Commission. The sale would reduce Blackstone’s stake to 30.3% from 39.1%. Management is also selling some stock.
Blackstone paid $4.7 billion for a controlling stake in TRW in 2003. The Livonia, Mich., company went public in 2004.
When TRW reported fourth quarter results on Feb. 25, the company said its year-end net debt was a record low $1.58 billion, representing a $573 million improvement from a year earlier. While TRW’s full-year sales fell 22.5% to $11.6 billion, due to a sharp downturn in auto production as well as negative currency effects, fourth quarter sales rose 20.3% to $3.4 billion.
Since the report, the company received an upgrade from Fitch Ratings, which predicts “increases in profits, healthy cash flow, and further deleveraging of the balance sheet” for the company in 2010. And Standard & Poor’s Ratings Services put the company’s ratings on CreditWatch with positive implications due to a strong fourth quarter performance and the potential that 2010 will be better than S&P expected. While S&P continues its CreditWatch, this desk will continue its TrendWatch for more good news in the sector (the planned GMAC IPO probably doesn’t count.)
about 4 months ago
1. We could have done without that list
2. I moved all my money off shore 4 Novemeber
3. I am not super rich, but have a business with over 30 workers. If they try taxing me anymore the first thing I will do is stop supplying full medical and dental, the feds can take it over. If they still try and add fees and taxes I'll close up shop and retire to Andorra or Costa Rica.
about 4 months ago
Experience tells me that you can never go wrong with a Marshall. If you looking for something cheap and fun I would suggest teh Vox Valvetronix VT15 15W 1×8 Guitar Combo Amp, you can pick one of for under 200 bucks.
* 15W combo amp
* VOX Valve Reactor circuit uses a 12AX7 to produce real tube power amp sound
* 22 realistic amp models are built in, ranging from the latest high-gain types to unobtainable legendary boutique amps and vintage amps
* 12 high-quality effects including independent reverb, rivaling the quality of dedicated units
* 3 banks (basic, effected, and song) are provided for each amp model, giving you a total of 66 preset programs
* Power level control allows you to adjust the output wattage of the power amp, so you can obtain that distinctive power amp distortion even at low output levels
* Headphone output lets you practice at home, day or night
Its a pretty cool toy.
Good luck with your search,
Mister M The Guitar Man
about 4 months ago
ok if your stock stereo dose not have output on the back then your going to have to buy a line inverter it inverts the line from speaker wires to RCA's plus it's an 06 so im sure you dont want to void the warranty " smart thinking bro " what you do is you buy the female and male to harness from your car you can get this at any audioshop then just connect the wires the speaker wires have to go to the inverter first then you connect the rca's from you amp to it and your set you dont cut any wires what so ever you could just go with just buying the inverter but keep in mind that you will have to tap into the stock wires and so void your warranty
about 2 months ago
I love these questions that are so obviously made up.
Thanks for the 2-points.
about 2 months ago
darn those republicans – how dare they not want to support the lazy 3 generation welfare recipients!
about 2 months ago
You need to look into Mean Grean alternators (they also build starters).
Their replacement alternators are of higher output and I believe they make them for Navigators. Check their web site.