Stocks continue to slump today as the panic mounts about the subprime mortgage implosion and worries about credit tightening send more investors scrambling for the exits.
As I write this, the Dow is down 147 points, the S&P is down 13, and the Nasdaq is down 46. It looks like the chickens are coming home to roost after the greed-driven mortgage market dished out billions upon billions of dollars to anyone who breathed.
What were they thinking? And who's going to pay to clean up the mess?
This correction was bound to come and it will eventually go. In the meantime, I wouldn't be surprised to see the Dow to eventually settle down to the 12,000 mark. That would be more realistic in my view.
Well, it's Friday, and I really don't feel like babbling on about the markets. I'd rather think about what I am going to do with my son this weekend. I'm taking him to a birthday party tomorrow, and I have some movies coming in from Netflix that we'll surely check out.
I'll definitely get some good practice time in on guitar. In fact, tomorrow night, I am inviting some buddies over to my place for Johnny B.'s Jam-Bo-F-in-Rama. It's a jam session I have from time to time. I'm sure it will be fun, and the face melting may be severe. Hahaha
Today's Daily Dose features The Ramones. They rock. Enjoy.
Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts
Friday, August 10, 2007
Friday, August 3, 2007
Here’s a Company that Rocks!
Kaman Corporation (KAMN)
Kaman Corp. (KAMN) is well known for its industrial technologies segment that distributes power transmission, motion control, material handling and electrical components and for its core business as a military helicopter manufacturer.
But this company also rocks as the largest independent U.S. distributor of musical instruments and accessories by offering more than 20,000 products for music professionals and aficionados.
Charles Kaman, the company’s founder, grew up with two passions: aircraft and guitars. What’s there not to like about this guy? In the 1930s, he competed in model airplane contests and became an adept guitarist. He even turned down an invitation to join the Tommy Dorsey band.
The rest is history. Kaman worked at United Aircraft, which was run by Igor Sikorsky. After United rejected some of his revolutionary design ideas, he pulled a rock ‘n’ roll move and set up his own company (in 1945) that built record-setting helicopter designs.
Sure rock ‘n’ roll hadn’t been born yet, but this guy rocked before rock.
Fast-forwarding to 1966, Kaman founded Ovation Instruments, which is well known for its use of composite materials and the “roundback” acoustic design.
On a financial level, KAMN’s stock has returned 57% so far this year and more than 94% in the past 12 months thanks to growing sales ($320 million in the second quarter). In the second quarter, the company raked in $10.1 million in profits, or 40 cents a share.
The aerospace segment grew sales by 31.5% to $97.8 million while the industrial distribution segment generated 2.4% growth to $176.6 million.
While sales in the music segment dipped a mere 1% to $47.6 million due to seasonal softness and overall market weakness, the fastest-growing segment in the company’s sales is the music distribution business.
At the end of 2006, KAMN’s music distribution sales saw an average two-year growth rate of 15.53%. This is good news for a company that rocks. What’s even better is KAMN is diversified into aerospace and industrial products. Diversity is good. When one segment softens, the others can pick up the slack and take care of shareholders.
Bottom line: KAMN rocks!
But this company also rocks as the largest independent U.S. distributor of musical instruments and accessories by offering more than 20,000 products for music professionals and aficionados.
Charles Kaman, the company’s founder, grew up with two passions: aircraft and guitars. What’s there not to like about this guy? In the 1930s, he competed in model airplane contests and became an adept guitarist. He even turned down an invitation to join the Tommy Dorsey band.
The rest is history. Kaman worked at United Aircraft, which was run by Igor Sikorsky. After United rejected some of his revolutionary design ideas, he pulled a rock ‘n’ roll move and set up his own company (in 1945) that built record-setting helicopter designs.
Sure rock ‘n’ roll hadn’t been born yet, but this guy rocked before rock.
Fast-forwarding to 1966, Kaman founded Ovation Instruments, which is well known for its use of composite materials and the “roundback” acoustic design.
On a financial level, KAMN’s stock has returned 57% so far this year and more than 94% in the past 12 months thanks to growing sales ($320 million in the second quarter). In the second quarter, the company raked in $10.1 million in profits, or 40 cents a share.
The aerospace segment grew sales by 31.5% to $97.8 million while the industrial distribution segment generated 2.4% growth to $176.6 million.
While sales in the music segment dipped a mere 1% to $47.6 million due to seasonal softness and overall market weakness, the fastest-growing segment in the company’s sales is the music distribution business.
At the end of 2006, KAMN’s music distribution sales saw an average two-year growth rate of 15.53%. This is good news for a company that rocks. What’s even better is KAMN is diversified into aerospace and industrial products. Diversity is good. When one segment softens, the others can pick up the slack and take care of shareholders.
Bottom line: KAMN rocks!
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