Dearest Readers, we have a confession to make. We fell short of the sacred trust you have placed in us, and were, somehow remiss. You see, it seems, that other than to mention an index change, we never discussed Air Products and Chemicals (APD) October 2016 spinoff of Versum Materials (VSM). We apologize profusely for this breach and… Read More »
Nearly three years after its April 2014 spinoff from Sears Holdings(SHLD), Lands’ End(LE) is fairing only marginally better than its former parent, which is teetering on the edge of bankruptcy. Lands End, which just after its spinoff had a market capitalization of $900 million, is worth just $485 million today. The company has nearly $500 million in long… Read More »
Every Spring in Chicago gives birth to new hope that this year will be different. It is rarely long, however, before hopes for this year are dashed and talk shifts to a focus on rebuilding for next year. We are not talking about the Cubs, but rather about iconic Chicago retailer Sears Holdings(SHLD). Once again, Sears posted a… Read More »
Ingersoll-Rand (IR) completed the spinoff of its commercial and residential security business, Allegion (ALLE). The new company started trading today on the NYSE and IR shareholders should have received 1 share of ALLE for every 3 shares of IR owned. The new company is expected to have revenues of over $2b and EBITDA of over $400m. For much… Read More »