Monday, September 28, 2009

Everyone is overpaying for consultants: It's rally time!

Xerox pays about 20% too much for ACS and the market is giddy because we're back to the good old days. I was going to compare this to Sears buying Kmart, but that's a little harsh - ACS is actually a pretty solid company - but I just don't see the fit. I think Xerox looked around after Hewlett Packard bought Perot and realized they were the only guy at the dance without a girl so they grabbed the first free girl, ACS, that they could find. This is more like EBAY buying Skype or Time Warner buying AOL. It's just a stretch to think that there are any synergies between these companies.

Asian markets are continuing the rally tonight we'll watch it tomorrow.

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This story really didn't make my day....

"The U.S. Northeast may have the coldest winter in a decade because of a weak El Nino, a warming current in the Pacific Ocean, according to Matt Rogers, a forecaster at Commodity Weather Group.

Weak El Ninos are notorious for cold and snowy weather on the Eastern seaboard,” Rogers said in a Bloomberg Television interview from Washington. “About 70 percent to 75 percent of the time a weak El Nino will deliver the goods in terms of above-normal heating demand and cold weather. It’s pretty good odds.”


Seriously, can it be any colder or snowier than the last couple of years? It's Sept 28th and I saw snow flurries in our local three day forecast. I'll be on http://miami.condo.com/ for the rest of the night....

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